What is the full form of ELSS

ELSS - Equity-linked Saving Scheme

Equity Linked Savings Scheme, popularly known as ELSS are close-ended, lock-in period of 3 years diversified equity schemes offered by mutual funds in India. They offer tax benefits under the new Section 80C of Income Tax Act 1961. ELSS can be invested using both SIP (Systematic Investment Plan) and lump sums investment options. There is a 3 years lock-in period, and thus has better Liquidity compared to other options like NSC and Public Provident Fund.